No. of Recommendations: 0
Affordable Care Act? OR do you prefer Trump and W legislation?
Personal experience with the ACA: I retired at 58, just before the ACA was enacted. I bought a bare bones plan from United Health. When the ACA was enacted, the plan I was on was no longer offered to new customers, as it did not meet ACA minimums, but I was grandfathered for a year or two. Even though it did not meet ACA minimums, it did qualify for the personal mandate, so I did not pay an "uninsured" penalty. That ticked me no end, because the cheapest ACA plan would cost me significantly more than what I had. After that initial grandfathering period ran out, I would receive a letter from UNH telling me Congress had extended the grandfathering for another year or two. I ended up keeping that bare bones plana, until I went on Medicare.
Big picture: while the ACA imposed some regulation on insurance companies, the individual mandate drove millions more customers to their door, and, conveniently, eliminated the bare bones coverage, like I had, in favor of baseline plans that were significantly more expensive.
Dive into insurance company profits and stock prices, since the ACA was enacted, and judge whether or not it was a bigger gold mine for the insurance companies, than Bush's parts C and D.
Steve